Analysing Worldwide Asymmetries on Cross-Border Investments: The Euro Area in Prespective
Rodrigo Oliveira-Soares
Directorate General Statistics, European Central Bank

The cross-border financial investments of a country can be measured by using different sources. First, national statistics capture each country's international investment position. In addition, the mirror investments from/to that country are recorded in the international investment positions of counterpart countries.

The paper will analyse the mirror data on direct investment and portfolio investment, and present possible explanations for different results. Those differences may arise, among others, from the coverage of surveys, definition of the resident population and method of valuation. The results of the analysis will help assessing the overall coherence of worldwide statistics, and may point to gaps or misallocations in particular areas. A special focus will be given to the results for the euro area.

The data to be contrasted will be taken from the statistics published by different international organisations.

Keywords: International investment position; Mirror statistics; Cross-border investments; Asymmetries

Biography: Rodrigo is Principal Economist-Statistician in the External Statistics Division in the European Central Bank. There he compiles and analyses statistics on the balance of payments and international investment position for the euro area as a whole. At the European Central bank, he also worked for a few years as expert on securities settlement in the Directorate General Payment Systems. Before joining the European Central Bank, he dealt with monetary statistics at the Banco de Portugal. Rodrigo has a degree in Physics Engineering by the Technical University of Lisbon and a post-graduation in Applied Economics by the New University of Lisbon.